inelasticˌɪn ɪˈlæs tɪk
English Definitions:
inelastic (adj)
not elastic
"economists speak of an inelastic price structure"
inelastic (Adjective)
lacking elasticity; inflexible, unyielding
Inelastic
In economics, elasticity measures the percentage change of one economic variable in response to a percentage change in another. If the price elasticity of the demand of something is -2, a 10% increase in price causes the demand quantity to fall by 20%.
inelastic
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"inelastic." Kamus.net. STANDS4 LLC, 2024. Web. 24 Apr. 2024. <https://www.kamus.net/english/inelastic>.
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